The IRS has amended the 2018 Instructions for Form 1098 to make a change to reporting of acquisition points. The following was added to the last bullet point in "Exceptions" under "Points"
- "Generally, to acquire a principal residence to the extent the points are allocable to an amount of principal in excess of $750,000."
Previously the threshold was $1 million.
For more information see the announcement by clicking here.
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